The Hindu Business Line : Tuesday, February 07, 2006

Essar Steel units' operation
AHMEDABAD: Saturday's accident at Essar Steel is unlikely to affect production in a major way and the company claims that the damaged electric arc furnace will be operational in a "couple of days". "The loss in production will be ... More

RESTRUCTURING

Sterling Holiday Resorts restructuring debt
The economic slowdown in 1996 impacted the company's fortunes; the sales of time-share plummeted, causing huge losses. It was forced to suspend payment to the creditors and bankers, retrench staff and rationalise operations. More

JK Agri Genetics to hive off seeds biz
JK Agri Genetics Ltd (JKAGL) today said it would hive off its seeds business to a new entity, while JKAGL would continue to focus on investments. The company declined to disclose the name of the new entity, when contacted. The shareholders of ... More

`Only 24 pc RIL promoters' equity transferred to Anil Ambani group'
THE Anil Ambani group today said that 24 per cent of the promoters' equity in Reliance Industries Ltd (RIL) was transferred to the Anil Dhirubhai Ambani Group (ADAG) on Monday, against 37 per cent that it is supposed to get as per the demerger ... More

MERGERS & ACQUISITIONS

No response to our offer yet: Nagarjuna Oil
WHEN contacted, the NFCL sources told Business Line, "We did offer a proposal to Chinese Petroleum for 26 per cent equity holding in Nagarjuna Oil Corporation Ltd (NOCL). However, we are yet to receive their response on it." In a recent ... More

NEW PROJECTS

ONGC to discuss power project plans at board meet
THE February board meeting of ONGC is expected to be dominated by power project proposals. While the 750-MW ONGC Tripura Power Company Ltd (OTPCL) will occupy centre-stage, ONGC will also submit firm proposals for setting up wind farms of 50 MW ... More

Orient Paper proposes Rs 210 cr investments
Orient Paper has hired an engineering firm to prepare the turnkey project blueprint. More

Ginni Filaments forays into FMCG segment
IN what appears to be a forward integration process, textile company Ginni Filaments, has charted out a foray into the FMCG segment with the launch of personal hygiene and beauty care products for children and women. The company is setting up ... More

Diamond brand Orra sets up new facility in Mumbai
THE Belgium-based RosyBlue Group, owners of the Orra diamond brand, has set up a new diamond production facility in Mumbai with an investment of Rs 35 crore. "The total capacity of the facility is $100 million per annum in value terms," said ... More

Phillips Carbon to shelve plan for power project — Net loss in two consecutive quarters
As the core activity was suffering, the management has decided to hold back the power project for the time being. More

ALLIANCES & JOINT VENTURES

Ranbaxy in jt. venture for marketing AIDS drugs in S. Africa
CIH will enable the joint venture to access the South African market as well as make available its expertise to gain entry into the new markets of Botswana and Namibia. More

Nuziveedu Seeds ties up with Rallis India
HYDERABAD: Nuziveedu Seeds has entered into a tie-up with Rallis India for marketing its Bt cotton hybrids. Rallis will market the hybrids in a special packaging. "The arrangement is likely to yield additional revenue of Rs 20 crore," said ... More

Tata AutoComp, GS Yuasa form joint venture
TATA AutoComp Systems Ltd (TACO) today announced a 50:50 joint venture with GS Yuasa International Ltd, Asia's largest automotive battery manufacturer. The new venture called Tata AutoComp GY Batteries Pvt Ltd with manufacturing facility near ... More

OUTLOOK

Sangam eyes military uniforms market
BHILWARA-based Sangam India Ltd (SIL) has identified the market of uniforms for military and para-military forces as new area for growth. The Managing Director of SIL, Mr S.N. Modani, told Business Line the annual consumption of the ... More

Confusion over ONGC plan to buy Nigerian blocks
ONGC's proposal to acquire 90 per cent stake in two offshore oil exploration blocks in Nigeria - 321 and 322 - is mired in confusion. According to latest information, Korea National Oil Company (KNOC) has been offered 65 per cent equity in ... More

TeamLease to offer blue-collar temps
TEAMLEASE Services Ltd, a company providing temporary staff to corporates, now plans to supply blue-collar employees such as factory workers, as there is growing demand for such a service in India. "Now we are planning to get into that. The ... More

Flakt Woods to make India sourcing hub
FLAKT Woods, the air handling equipment manufacturer with its headquarters in Switzerland, is looking to strengthen its operations in India while using it as a supply base to grow in Europe. Mr Didier Forget, Chief Executive Officer, Flakt ... More

PERFORMANCE

Removal of quota curbs lifts apparel co Gokaldas sales 53%
REMOVAL of quota restrictions has lifted sales of apparel company Gokaldas Exports 53 per cent to Rs 214 crore for the third quarter of 2005-06. A press statement from Gokaldas Exports said as quota restrictions had been removed volumes in the ... More

PEOPLE

`Biggest high' is open culture in Sona Group
BUSINESS may be in the blood of this articulate Chairman of the Sona Group, Dr Surinder Kapur, but in every other way he is the quintessential self-made entrepreneur, who takes pride in the organisation he has built from scratch. "It has been a ... More

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